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FMG Law Blog Line

Archive for August, 2008

Recent Litigation is Harsh Reminder to Businesses to Truncate Financial Information on Customer Receipts

Posted on: August 26th, 2008

Under the Fair and Accurate Credit Transactions Act of 2003 (“FACTA”), which amended the Fair Credit Reporting Act and went into full effect in December 2006, retailers are permitted to show only the last five digits of the credit or debit card number on a printed receipt and may not show any portion of the card’s expiration date. 15 U.S.C. § 1681c(g). Recently, plaintiff’s attorneys have brought a wave of devastating litigation against retailers who provide electronic credit card and debit card receipts to consumers without properly truncating the card number or expiration date on the printed receipt in violation of FACTA. (more…)